Pros Explained

• High APY: BrioDirect's savings account offers an impressive 4.30% APY.
• No monthly fee: You won’t have to worry about keeping a certain amount of money in the account at all times to avoid an account maintenance fee.

Cons Explained

• Only offers a single savings account: BrioDirect used to offer CDs and 澳洲幸运5官方开奖结果体彩网:money market accounts, but today it only offers a single high-yield savings account.
• High minimum opening deposit requirement: Brio's savings account requires a minimum opening deposit of $5,000—higher than many other 澳洲幸运5官方开奖结果体彩网:high-yield savings accounts.
  

Who Is BrioDirect Best For?

BrioDirect Bank should appeal to 澳洲幸ꦗ运5官方开奖结果体彩网:customers who are comfortable bankin🐲g online and don’t have a need to step into a brick-and-mortar location. It might be a partic✤ularly good fit for those who:💫

• Only want a high-yield savings account
  
• Don’t want to be paralyzed by myriad choices
• Want to work with a bank that’s backed by an established financial institution

What Does BrioDirect Bank Offer?

BrioDirect offers Federal Deposit Insurance Corporation (FDIC)-backed savings accounts for those who want a safe place to 🐎stash their savin♚gs and earn some interest.

High-Yield Savings

BrioDirect Bank’s 澳洲幸运5官方开奖结果体彩网:high-yield savings account has a competitive rate of 4.30% 澳洲幸运5官方开奖结果体彩网:annual percentage yield (APY). You won’t have to worry about paying ✃a monthly fee, and you’ll 🎐need $5,000 as an opening deposit to get started.

While there are no monthly maintenཧance fees, there are a few fees if you’re not careful: a $10 fee for withdrawals from your savings that a🌞re in excess of six per month and $35 for each overdraft.

While the FDIC protects your money up to $250,000 per account holder, if you’re an existing customer with BrioDirect’s parent bank, Webster Bank, you’ll need to consider the fact that the $250,000 is across all your deposit accounts for both banks. For example, if you have a savings and checking account with Webster Bank and want to open a savings account with BrioBank, you’ll be covered up to $250,000 for all your accounts. As this is per person, if you share joint accounts with someone, then the covered amount doubles to $500,000.

BrioDirect Bank Customer Service

Potential and current customers can get ahold of a human by phone at (877) 369-BRIO, six days a week. Its customer contact center is open Monday through Friday, 8:00 a.m. to 8:00 p.m. ET, and 8:30🌳 a.m. to 3 p.m. ET on Saturdays. You can also reach out to BrioDirect Bank by way of snail mail.

How to Bank With BrioDirect Bank 

As is the case for online banks, you can apply and open an account online. The process is fairly straig🐼htforward, and the application process can take a matter of minutes. You’ll need to have the standard information on hand: your driver’s license, a government-issued ID (e.g., a passport, a state-issued ID), Social Security number, and contact information. You can make an initial deposit by an external transfer through another bank, wiring money, or sending a check.

Methodology

Investopedia is dedicated to providౠing consumers with unbiased, comprehensive reviews of banks. We collected more than 20 data points across more than 80 banks🧔—including products available, interest rates, fees, and accessibility—to ensure that our content helps users make the right decision for their savings and banking needs.